DEERE & CO
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Income Statement
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue (Q) | — | — | — |
Show Product Lines breakouts |
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| Compact Construction | 468 | 361 | +29.6% |
| Compact Construction · Construction & Forestry (CF) | 468 | 361 | +29.6% |
| Construction | 1,111 | 770 | +44.3% |
| Construction · Construction & Forestry (CF) | 1,111 | 770 | +44.3% |
| Forestry | 269 | 226 | +19.0% |
| Forestry · Construction & Forestry (CF) | 269 | 226 | +19.0% |
| Production Agriculture | 3,093 | 3,002 | +3.0% |
| Production Agriculture · Production & Precision Agriculture (PPA) | 3,093 | 3,002 | +3.0% |
| Roadbuilding | 772 | 596 | +29.5% |
| Roadbuilding · Construction & Forestry (CF) | 772 | 596 | +29.5% |
| Small Agriculture | 1,527 | 1,234 | +23.7% |
| Small Agriculture · Small Agriculture & Turf (SAT) | 1,527 | 1,234 | +23.7% |
| Turf | 576 | 463 | +24.4% |
| Turf · Small Agriculture & Turf (SAT) | 576 | 463 | +24.4% |
| Revenue | 9,611 | 8,508 | +13.0% |
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| Financial Service | 1,343 | 1,453 | -7.6% |
| Financial Service · Construction & Forestry (CF) | 5 | 2 | +150.0% |
| Financial Service · Financial Services (FS) | 1,260 | 1,363 | -7.6% |
| Financial Service · Operating Segments | 1,287 | 1,383 | -6.9% |
| Financial Service · Production & Precision Agriculture (PPA) | 12 | 9 | +33.3% |
| Financial Service · Small Agriculture & Turf (SAT) | 10 | 9 | +11.1% |
| Other Income | 267 | 246 | +8.5% |
| Other Income · Construction & Forestry (CF) | 48 | 45 | +6.7% |
| Other Income · Corporate Non Segment | 58 | 75 | -22.7% |
| Other Income · Financial Services (FS) | 124 | 107 | +15.9% |
| Other Income · Operating Segments | 265 | 241 | +10.0% |
| Other Income · Production & Precision Agriculture (PPA) | 57 | 56 | +1.8% |
| Other Income · Small Agriculture & Turf (SAT) | 36 | 33 | +9.1% |
| Product | 8,001 | 6,809 | +17.5% |
| Product · Construction & Forestry (CF) | 2,670 | 1,994 | +33.9% |
| Product · Operating Segments | 8,001 | 6,809 | +17.5% |
| Product · Production & Precision Agriculture (PPA) | 3,163 | 3,067 | +3.1% |
| Product · Small Agriculture & Turf (SAT) | 2,168 | 1,748 | +24.0% |
Show Business Segments breakouts |
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| Construction & Forestry (CF) | 2,734 | 2,058 | +32.8% |
| Construction & Forestry (CF) · Asia, Africa, Oceania, and Middle East | 288 | 224 | +28.6% |
| Construction & Forestry (CF) · CA | 136 | 101 | +34.7% |
| Construction & Forestry (CF) · Central Europe and CIS | 76 | 71 | +7.0% |
| Construction & Forestry (CF) · Latin America | 231 | 205 | +12.7% |
| Construction & Forestry (CF) · Operating Segments | 2,731 | 2,043 | +33.7% |
| Construction & Forestry (CF) · Transferred At Point In Time | 2,695 | 2,028 | +32.9% |
| Construction & Forestry (CF) · Transferred Over Time | 39 | 30 | +30.0% |
| Construction & Forestry (CF) · US | 1,577 | 1,113 | +41.7% |
| Construction & Forestry (CF) · Western Europe | 426 | 344 | +23.8% |
| Financial Services (FS) · Operating Segments | 1,488 | 1,573 | -5.4% |
| Production & Precision Agriculture (PPA) | 3,269 | 3,173 | +3.0% |
| Production & Precision Agriculture (PPA) · Asia, Africa, Oceania, and Middle East | 325 | 205 | +58.5% |
| Production & Precision Agriculture (PPA) · CA | 398 | 354 | +12.4% |
| Production & Precision Agriculture (PPA) · Central Europe and CIS | 172 | 67 | +156.7% |
| Production & Precision Agriculture (PPA) · Latin America | 684 | 715 | -4.3% |
| Production & Precision Agriculture (PPA) · Operating Segments | 3,286 | 3,189 | +3.0% |
| Production & Precision Agriculture (PPA) · Transferred At Point In Time | 3,164 | 3,086 | +2.5% |
| Production & Precision Agriculture (PPA) · Transferred Over Time | 105 | 87 | +20.7% |
| Production & Precision Agriculture (PPA) · US | 1,226 | 1,555 | -21.2% |
| Production & Precision Agriculture (PPA) · Western Europe | 464 | 277 | +67.5% |
| Small Agriculture & Turf (SAT) | 2,224 | 1,807 | +23.1% |
| Small Agriculture & Turf (SAT) · Asia, Africa, Oceania, and Middle East | 376 | 308 | +22.1% |
| Small Agriculture & Turf (SAT) · CA | 101 | 79 | +27.8% |
| Small Agriculture & Turf (SAT) · Central Europe and CIS | 60 | 39 | +53.8% |
| Small Agriculture & Turf (SAT) · Latin America | 95 | 80 | +18.8% |
| Small Agriculture & Turf (SAT) · Operating Segments | 2,223 | 1,795 | +23.8% |
| Small Agriculture & Turf (SAT) · Transferred At Point In Time | 2,174 | 1,760 | +23.5% |
| Small Agriculture & Turf (SAT) · Transferred Over Time | 50 | 47 | +6.4% |
| Small Agriculture & Turf (SAT) · US | 1,106 | 949 | +16.5% |
| Small Agriculture & Turf (SAT) · Western Europe | 486 | 352 | +38.1% |
Show Geography breakouts |
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| Asia, Africa, Oceania, and Middle East | 1,043 | 792 | +31.7% |
| CA | 826 | 721 | +14.6% |
| Central Europe and CIS | 310 | 181 | +71.3% |
| Latin America | 1,042 | 1,096 | -4.9% |
| US | 4,960 | 4,702 | +5.5% |
| Western Europe | 1,430 | 1,016 | +40.7% |
Show Consolidation Items breakouts |
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| Intersegment Elimination | -175 | -167 | -4.8% |
| Operating Segments | 9,728 | 8,600 | +13.1% |
Show Timing Of Transfer Of Good Or Service breakouts |
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| Transferred At Point In Time | 8,066 | 6,903 | +16.8% |
| Transferred Over Time | 1,545 | 1,605 | -3.7% |
| Other Revenue (Q) | — | — | — |
Show Product Lines breakouts |
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| Financial Products | 1,486 | 1,579 | -5.9% |
| Financial Products · Construction & Forestry (CF) | 18 | 21 | -14.3% |
| Financial Products · Financial Services (FS) | 1,384 | 1,470 | -5.9% |
| Financial Products · Production & Precision Agriculture (PPA) | 57 | 55 | +3.6% |
| Financial Products · Small Agriculture & Turf (SAT) | 27 | 33 | -18.2% |
Show Business Segments breakouts |
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| Financial Services (FS) | 1,384 | 1,470 | -5.9% |
| Financial Services (FS) · Asia, Africa, Oceania, and Middle East | 54 | 55 | -1.8% |
| Financial Services (FS) · CA | 191 | 187 | +2.1% |
| Financial Services (FS) · Central Europe and CIS | 2 | 4 | -50.0% |
| Financial Services (FS) · Latin America | 32 | 96 | -66.7% |
| Financial Services (FS) · Transferred At Point In Time | 33 | 29 | +13.8% |
| Financial Services (FS) · Transferred Over Time | 1,351 | 1,441 | -6.2% |
| Financial Services (FS) · US | 1,051 | 1,085 | -3.1% |
| Financial Services (FS) · Western Europe | 54 | 43 | +25.6% |
| Cost of Revenue (Q) | — | — | — |
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| Product | 6,280 | 5,037 | +24.7% |
| Product · Construction & Forestry (CF) | 2,182 | 1,584 | +37.8% |
| Product · Operating Segments | 6,291 | 5,045 | +24.7% |
| Product · Production & Precision Agriculture (PPA) | 2,476 | 2,164 | +14.4% |
| Product · Small Agriculture & Turf (SAT) | 1,633 | 1,297 | +25.9% |
| Total Costs & Expenses | 8,775 | 7,613 | +15.3% |
| Research & Development | 554 | 526 | +5.3% |
| Selling, General & Administrative | 972 | 972 | 0.0% |
| Operating Income (Q) | — | — | — |
Show Business Segments breakouts |
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| Construction & Forestry (CF) · Operating Segments | 137 | 65 | +110.8% |
| Financial Services (FS) · Operating Segments | 301 | 266 | +13.2% |
| Production & Precision Agriculture (PPA) · Operating Segments | 139 | 338 | -58.9% |
| Small Agriculture & Turf (SAT) · Operating Segments | 196 | 124 | +58.1% |
Show Consolidation Items breakouts |
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| Operating Segments | 773 | 793 | -2.5% |
| Interest Expense (Q) | — | — | — |
Show Product Lines breakouts |
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| Reconciling Item Including Corporate | -93 | -84 | -10.7% |
| Income Tax Expense (Benefit) | 196 | 27 | +625.9% |
| Net Income | 656 | 869 | -24.5% |
| Net Income | 655 | 867 | -24.5% |
| Comprehensive Income | 1,023 | 408 | +150.7% |
| Other Comprehensive Income | 367 | -461 | +179.6% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -1 | 3 | -133.3% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | -5 | -1 | -400.0% |
| Accumulated Net Unrealized Investment Gain Loss | 2 | -15 | +113.3% |
| Accumulated Translation Adjustment | 371 | -448 | +182.8% |
| EPS (Basic) | 2.43 | 3.2 | -24.1% |
| EPS (Diluted) | 2.42 | 3.19 | -24.1% |
| Wtd Avg Shares (Basic) | 270.3 | 271.6 | -0.5% |
| Wtd Avg Shares (Diluted) | 270.9 | 272.3 | -0.5% |
| Interest Expense | 719 | 829 | -13.3% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Interest Rate Swap | 4 | 8 | -50.0% |
| Interest Expense Operating (Q) | — | — | — |
Show Business Segments breakouts |
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| Financial Services (FS) · Operating Segments | -664 | -766 | +13.3% |
Show Consolidation Items breakouts |
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| Operating Segments | -664 | -766 | +13.3% |
| Provision For Loan Lease And Other Losses | 36 | 69 | -47.8% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | 836 | 895 | -6.6% |
| Income Loss From Equity Method Investments | 15 | -1 | +1600.0% |
| Net Income Loss Attributable To Noncontrolling Interest | -1 | -2 | +50.0% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 6,798 | 6,601 | +3.0% |
| Inventory | 8,286 | 7,744 | +7.0% |
| Non-Current Assets | |||
| Goodwill | 4,280 | 3,872 | +10.5% |
Show Business Segments breakouts |
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| Construction & Forestry (CF) | 3,134 | 2,821 | +11.1% |
| Production & Precision Agriculture (PPA) | 750 | 690 | +8.7% |
| Small Agriculture & Turf (SAT) | 396 | 361 | +9.7% |
| Intangible Assets | 880 | 937 | -6.1% |
| Defined Benefit Plan Assets For Plan Benefits Noncurrent | 3,378 | 3,018 | +11.9% |
| Deferred Tax Assets | 2,268 | 1,852 | +22.5% |
| Total Assets | 103,436 | 103,119 | +0.3% |
Show Business Segments breakouts |
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| Construction & Forestry (CF) · Operating Segments | 8,043 | 7,237 | +11.1% |
| Financial Services (FS) · Operating Segments | 67,904 | 69,686 | -2.6% |
| Production & Precision Agriculture (PPA) · Operating Segments | 9,123 | 8,773 | +4.0% |
| Small Agriculture & Turf (SAT) · Operating Segments | 4,335 | 4,179 | +3.7% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 14,031 | 13,244 | +5.9% |
Show Pledged Status breakouts |
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| Asset Pledged As Collateral With Right | 6,647 | 8,439 | -21.2% |
| Other Assets | |||
| Marketable Securities | 1,398 | 1,214 | +15.2% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 264 | 301 | -12.3% |
| Fair Value Inputs Level1 · US Government Debt Securities | 264 | 301 | -12.3% |
| Fair Value Inputs Level2 · Corporate Debt Securities | 510 | 419 | +21.7% |
| Fair Value Inputs Level2 · Fair Value Measurements Recurring | 1,134 | 913 | +24.2% |
| Fair Value Inputs Level2 · Foreign Government Debt Securities | 162 | 132 | +22.7% |
| Fair Value Inputs Level2 · International Fixed Income Fund | 7 | — | — |
| Fair Value Inputs Level2 · Mortgage Backed Securities | 228 | 174 | +31.0% |
| Fair Value Inputs Level2 · US Government Debt Securities | 117 | 108 | +8.3% |
| Fair Value Inputs Level2 · US States And Political Subdivisions | 110 | 80 | +37.5% |
| Accounts Receivable Net | 5,993 | 4,931 | +21.5% |
| Notes Receivable And Net Investment In Lease Net (Q) | — | — | — |
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| Fair Value Inputs Level3 · Asset Not Pledged As Collateral | 42,266 | 41,311 | +2.3% |
| Fair Value Inputs Level3 · Asset Pledged As Collateral With Right | 6,494 | 8,174 | -20.6% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure · Asset Not Pledged As Collateral | 42,113 | 41,396 | +1.7% |
| Carrying Reported Amount Fair Value Disclosure · Asset Pledged As Collateral With Right | 6,479 | 8,257 | -21.5% |
Show Pledged Status breakouts |
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| Asset Not Pledged As Collateral | 42,113 | 41,396 | +1.7% |
| Asset Pledged As Collateral With Right | 6,479 | 8,257 | -21.5% |
| Other Receivables | 2,411 | 2,979 | -19.1% |
| Property Subject To Or Available For Operating Lease Net | 7,512 | 7,157 | +5.0% |
| Property Plant And Equipment And Finance Lease Right Of Use Asset Excluding Lessor Asset Under Operating Lease After Accumulated Depreciation And Amortization | 8,084 | 7,425 | +8.9% |
| Other Assets | 3,556 | 2,807 | +26.7% |
Show Pledged Status breakouts |
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| Asset Pledged As Collateral With Right | 168 | 182 | -7.7% |
| Current Liabilities | |||
| Debt Current | 14,392 | 12,811 | +12.3% |
Show Short Term Debt Type breakouts |
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| Commercial Paper | 4,327 | 2,699 | +60.3% |
| Long-term Borrowings Due Within One Year | 9,342 | 9,517 | -1.8% |
| Notes Payable To Banks | 685 | 561 | +22.1% |
| Product Financing Arrangement | 38 | 34 | +11.8% |
| Current Portion of Long-Term Debt (Q) | — | — | — |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level2 | 9,390 | 9,468 | -0.8% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 9,342 | 9,517 | -1.8% |
| Non-Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current And Noncurrent | 12,533 | 12,162 | +3.1% |
| Deferred Tax Liabilities | 434 | 448 | -3.1% |
| Long Term Debt And Finance Leases Noncurrent | 41,804 | 43,556 | -4.0% |
| Pension And Other Postretirement Defined Benefit Plans And Other Liabilities Current And Noncurrent | 1,633 | 1,734 | -5.8% |
| Total Liabilities | 77,079 | 80,555 | -4.3% |
| Long-Term Debt (Q) | — | — | — |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level2 | 41,721 | 43,172 | -3.4% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 41,730 | 43,483 | -4.0% |
| Other Liabilities | |||
| Secured Debt | 6,283 | 8,014 | -21.6% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level2 | 6,322 | 8,036 | -21.3% |
Show Fair Value By Measurement Basis breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 6,283 | 8,014 | -21.6% |
| Redeemable Noncontrolling Interest Equity Carrying Amount | 50 | 78 | -35.9% |
| Stockholders' Equity | |||
| Common Stock | 5,715 | 5,526 | +3.4% |
| Treasury Stock Common Value | -36,645 | -35,709 | -2.6% |
| Retained Earnings | 59,895 | 56,829 | +5.4% |
| Accumulated Other Comprehensive Income | -2,665 | -4,167 | +36.0% |
| Total Stockholders' Equity | 26,300 | 22,479 | +17.0% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -1,183 | -1,271 | +6.9% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | -59 | -73 | +19.2% |
| Accumulated Net Unrealized Investment Gain Loss | -41 | -89 | +53.9% |
| Accumulated Other Comprehensive Income | -2,665 | -4,167 | +36.0% |
| Accumulated Translation Adjustment | -1,382 | -2,734 | +49.5% |
| Minority Interest | 7 | 7 | 0.0% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 26,307 | 22,486 | +17.0% |
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| Accumulated Other Comprehensive Income | -2,665 | -4,167 | +36.0% |
| Common Stock | 5,715 | 5,526 | +3.4% |
| Noncontrolling Interest | 7 | 7 | 0.0% |
| Retained Earnings | 59,895 | 56,829 | +5.4% |
| Treasury Stock Common | -36,645 | -35,709 | -2.6% |
| Total Liabilities & Equity | 103,436 | 103,119 | +0.3% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 590 | 549 | +7.5% |
Show Business Segments breakouts |
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| Construction & Forestry (CF) · Operating Segments | 96 | 88 | +9.1% |
| Financial Services (FS) · Operating Segments | 274 | 265 | +3.4% |
| Production & Precision Agriculture (PPA) · Operating Segments | 171 | 166 | +3.0% |
| Small Agriculture & Turf (SAT) · Operating Segments | 75 | 65 | +15.4% |
Show Consolidation Items breakouts |
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| Intersegment Elimination | -26 | -35 | +25.7% |
| Stock-Based Compensation | 41 | 28 | +46.4% |
| Deferred Income Taxes | 18 | 208 | -91.3% |
| Change in Inventory | -746 | -795 | +6.2% |
| Net Cash from Operations | -890 | -1,132 | +21.4% |
| Investing Activities | |||
| Capital Expenditures | -256 | -352 | +27.3% |
| Other Investing Activities | -51 | -47 | -8.5% |
| Net Cash from Investing | 1,822 | 1,416 | +28.7% |
| Financing Activities | |||
| Share Repurchases | -302 | -441 | +31.5% |
| Net Cash from Financing | -2,490 | -923 | -169.8% |
| Other Cash Flow | |||
| Net Change in Cash | -1,460 | -726 | -101.1% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.